Recently ABB Ltd. (ABB - Analyst Report) brought forward a new technology for faster charging of electric buses in just 15 seconds. This will be helpful for the next-generation zero-emission urban mass transportation system.
At the 60th congress of the International Association of Public Transport (UTIP) in Geneva, ABB announced that it is working on this project in association with three other institutions, namely the city’s public transport company The Geneva Public (TGP), the Office for the Promotion of Industries and Technologies (OPI) and the Geneva power utility Services Industriels de Geneva (SIG).
The project named TOSA (Trolleybus Optimisation System Alimentation) will develop the world’s first full electric articulated bus that will run with zero carbon emission to reduce atmospheric pollution to a great extent. Moreover, the bus will get recharged without any overhead wires at the bus stops en route in just 15 seconds. The removal of unattractive wires for recharging will improve the visual impact in the cities and also reduce inconvenience to the residents of buildings to which the wires are attached. In addition, the system will be using renewable energies drawn from the solar grid that are highly energy-efficient.
With all these advanced features, TOSA is expected to generate huge demand in the market to augment ABB’s revenue. ABB is a leader in power and automation technologies that enable utility and industry customers to improve performance while lowering the environmental impact. The growing global investment in power distribution, both in mature and in the emerging markets, is expected to drive momentum for ABB, going forward.
Recently, the company has been also making strategic acquisitions and partnerships to further strengthen its position in various emerging areas of the power industry. In the last reported quarter (1Q13), Power Systems revenue was $2.0 billion, up 15% year over year in terms of local currency.
ABB currently has a Zacks Rank #3 (Hold). However, some other companies operating in the same industry and worth considering at the moment are Quanta Services Inc.(PWR - Analyst Report), Willdan Group Inc.(WLDN - Snapshot Report) and Harris & Harris Group Inc. , all having a Zacks Rank #2 (Buy).